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Today, the price of gold surged past the $2450.00 level, reaching a new milestone at $2475.00. This upward trend marks a series of new historical highs, with analysts now anticipating a push towards the significant $2500.00 barrier.
The bullish momentum is supported by the EMA50, indicating a continued upward trajectory. However, experts caution that there may be temporary sideways movements influenced by stochastic negativity. Breaking below $2450.00 could interrupt the current bullish trend, potentially leading to intraday bearish corrections before resuming the upward climb.
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For today’s trading, the projected range is expected to fluctuate between support at $2455.00 and resistance at $2500.00.
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Trend Forecast: Bullish
